Nifty strategy for today: Stating strategy on Nifty Virendra Kumar of CNBC-Awaaz Said the first registration is on 23579-23622 (200 DEMA) while the big registration is on 23667 (50DEMA) -23710/744. The first base is 23344 (20 Dema) -23410
While the large base is on 23181/23225-23281.
Virendra Kumar further said that 20 Dema/Pre-Budget Short Covering worked, after crossing 23329, all the targets were achieved. In yesterday’s boom, a large part of short coverings, Fiis has covered stock futures. 23200-23300-23400-23500 zone is getting heavy put writing. Except 23600, call writing disappeared on the rest of the Straits.
He further said that there is no special change in FII’s index short, it is difficult to say anything about the session. Any decline can be purchased up to the first and second base. If the second base slipped, the entire swing will fail. A sharp fall from 23000-22966 below 23181 is possible. Target the first and second registration at the top.
Strategy on Nifty Bank
Virendra Kumar said that the first registration is on 49710-49871 while the big registration is on 50041-50210/50280 (200 DEMA). The first base is at 49026/49123-49310 while the big base is at 48570/4868-48808.
Virendra Kumar said that after crossing 20 DEMA, 300 marks have been given swing. There was no significant change in shares and their OI. Short coverings in some small banks, SBI and HDFC Bank have also seen some coverings.
49000 is the highest put writing, 50000 call writers. Be prepared for big uproar, shopping in decline above 49026 will work. He further said that below 49026 can slip from 48570-48688. Target the first and big registration above. It is also possible to move up to 50280 (200 Dema) in a strong boom.
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